Page 13 - Uk Economy

Covid-19 impact: UK job losses hit decade-high, worse seen ahead

Mounting job losses are expected as Britain winds down its job-retention scheme, which has covered around one in three private-sector jobs. It is due to close at the end of October

Covid-19 crisis: Britain pauses on rate, sees unemployment at 2.5 million

BoE says downturn less severe than feared, avoids 'last resort' negative rates

As UK eases lockdown, services activity expands at fastest pace in 5 years

IHS Markit's Purchasing Managers' Index rose to 56.5 last month, up from 47.1 in June

Over half of furloughed UK staff back at work, think tank estimates

Britain's finance ministry has said furlough payments totalling 32 billion pounds ($42 billion) so far have been made in respect of a cumulative 9.5 million jobs

UK to create 'freeports,' bring massive tax cuts a year into Brexit: Report

The successful bidders designated as freeports will ultimately be legally outside UK customs territory, with goods imported, manufactured or re-exported without incurring national tariffs

UK to double work coaches as lockdown hammers jobs market

The number of work coaches at British job centres will double to 27,000 at a cost of 800 million pounds.

UK factories increasingly plan lay-offs, to recover from Covid-19: Survey

The survey showed only a slight improvement in gauges of revenue and new orders

UK PM Johnson unveils 5 billion-pound plan to fuel economic recovery

British Prime Minister Boris Johnson announced a 5-billion-pound (about US $6.2 billion) plan to fuel economic recovery in the wake of the coronavirus crisis.

UK economy shrinks by record 20.4%; BoE warns of worst recession in 300 yrs

In a slump that dwarfed previous downturns in Britain's recent history, the Office for National Statistics also said the economy shrank by 24.5% compared with April last year

Energy Efficiency Services JV becomes fastest-growing Indian firm in UK

The EPAL's watershed moment was in 2018 when it acquired Edina, UK's leading supplier, installer and maintenance provider for Combined, Heat and Power solutions.

UK's Sunak authorises bailout to rescue strategically important companies

Under the plan, which is named "Project Birch", the finance minister has raised the UK Treasury's capacity to handle bespoke bailouts of "viable" companies which have exhausted all options

Amid Covid-19 mess, PM Johnson plans to cut Huawei's 5G involvement in UK

Johnson has asked officials to make plans to reduce China's involvement in British infrastructure to zero by 2023

UK in deepest recession, but will not adopt negative interest rates: Report

Britain has the highest Covid-19 related death toll in Europe despite a lockdown that has kept citizens at home and businesses closed since March 23

Fighting coronavirus: It's a mixed bag for Indian firms in Britain

Jaguar Land Rover, a marquee entity of the Tata group, has been majorly hit by the freeze

UK economy contracts 2% amid Covid-19 crisis; lockdown norms relaxed

"The impacts of the coronavirus were seen right across the economy, with nearly all sub-sectors falling in the three months to March," the Office for National Statistics (ONS) said on Wednesday.

UK's GDP shrinks by record 5.8% in March as Covid-19 pandemic bites

In the first three months of the year, GDOP contracted by 2.0% from the last three months of 2019, the Office for National Statistics said.

UK corporate insolvencies fall as virus support plans kick in: KPMG

The spread of the novel coronavirus - and lockdown measures introduced to contain it - has ravaged the British economy, with many non-essential businesses told to close

British economy on track for biggest contraction 'in living memory': Report

Adding to the bleak mood, figures earlier on Tuesday showed monthly car sales had dropped to their lowest since 1946 due to the closure of showrooms,

UK to publish work plans once curbs are lifted as firms press for support

Firms will get advice on different types of workplace activity, including operating outdoors or inside someone else's home, according to two people with knowledge of the government's plans.

UK banks borrow 3.7 bn pound from BoE as Covid-19 effects impact economy

Former BoE Governor Mark Carney said last week they were likely to be part of the solution to an economic crisis, rather than the cause.More liquidity is also on the way, should banks need it.